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Volkswagen signs an agreement with Government of Canada to strengthen its battery supply chain.
The Government of Canada and Volkswagen will work together to explore opportunities for Canada to contribute to Volkswagen’s battery supply chains.
Volkswagen AG and the Government of Canada entered into a partnership to promote electric mobility and to explore opportunities across Canada’s automotive and battery supply chain.
CEO of Volkswagen, Herbert Diess, and Canada’s Minister of Innovation, Science, and Industry, François-Philippe Champagne, signed the MoU in the presence of German Chancellor Olaf Scholz and Canadian Prime Minister Justin Trudeau.
The government and Volkswagen will work together to explore opportunities for Canada to contribute to Volkswagen’s global and regional battery supply chains.
Volkswagen’s newly founded battery company, PowerCo, will establish a new, dedicated liaison office in Canada. PowerCo will work for battery value creation, raw materials supply chains, and cathode material production in the North American region. PowerCo will focus on the supply of critical raw materials such as lithium, nickel, and cobalt.
Volkswagen will also ramp up cathode material production in Canada by partnering with raw material suppliers, refiners, and processors.
Dr. Herbert Diess, CEO of Volkswagen Group: “Volkswagen has been vigorously pushing the transformation to e-mobility, recognizing the industry‘s responsibility in the global battle against climate change. The Group today not only offers the broadest range of electric models to customers but is also rolling out an ambitious battery and charging strategy. Working hand in hand with governments around the world is an absolute prerequisite to meet our climate goals and I want to thank the Canadian government for their support. The supply of battery raw materials and the production of precursor and cathode materials with a low carbon footprint will allow for a fast and sustainable ramp-up of battery capacity — a key lever for our growth strategy in North America.“
The Honourable François-Philippe Champagne, Minister of Innovation, Science and Industry, said: “Canada is quickly becoming the green supplier of choice for major auto companies, including leading European manufacturers, as we transition to a cleaner, greener future. By partnering with Volkswagen, Canada is strengthening its leadership role as a world-class automotive innovation ecosystem for clean transportation solutions. Canada is committed to building a strong and reliable automotive and battery supply chain here in North America to help the world meet global climate goals.”
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